There have been many definitions as to “what is small business”. One of the better definitions is that a small business is “a business in which all the critical management decisions are made by one or two people without the aid of internal specialists”.
Undoubtedly the most disturbing statistic of all is that out of every 100 new small businesses that commence each year, 75 will be out of business within three years. This particular statistic highlights the magnitude of the problem, as the economic costs, social problems, and psychological damage to the small business operators, their families and employees from these failed businesses is immeasurable.
This Business Riser Guide explains some of the pitfalls in starting a business showing you how to assess your strengths and weaknesses plus what to look for in professional advisors when making that decision to start up or purchase.